52 The following balances were obtained from the books of Tim Curry plc as at December...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/665648c44b31b_756665648c4445f0.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/665648c4a34d0_756665648c498717.jpg)
Transcribed Image Text:
52 The following balances were obtained from the books of Tim Curry plc as at December 31, 2020. DR CR Cost of Sales Closing Stock 10% Debenture Debenture Interest General Reserves 5% Loan 758,500 210,000 350,000 20,000 40,000 200,000 Loan Interest 6,000 Retained Earnings 20,000 Goodwill 200,000 Ordinary Share Capital @ $2 400,000 10% Preference Share Capital @ $1 400,000 Share Premium 30,000 Sales Tumover 1,300,000 Debtors 60,000 Bank $8,000 Provision for Bad Debts 5,000 Wages and Salaries 122,000 Insurance 47,000 Management Fees 60,000 Directors Fees 40,000 Motor Vehicle 500,000 Provision for Depn on Motor Vehicle 40,000 Premises 550,000 Machinery and Equipment 220,000 Creditors 33,000 Provision for Depn Mach & Equip 37,500 Interim Preference Shares Dividends 25,000 Interim Ordinary Shares Dividend 5,000 2,843,500 2,843,500 52 The following balances were obtained from the books of Tim Curry plc as at December 31, 2020. DR CR Cost of Sales Closing Stock 10% Debenture Debenture Interest General Reserves 5% Loan 758,500 210,000 350,000 20,000 40,000 200,000 Loan Interest 6,000 Retained Earnings 20,000 Goodwill 200,000 Ordinary Share Capital @ $2 400,000 10% Preference Share Capital @ $1 400,000 Share Premium 30,000 Sales Tumover 1,300,000 Debtors 60,000 Bank $8,000 Provision for Bad Debts 5,000 Wages and Salaries 122,000 Insurance 47,000 Management Fees 60,000 Directors Fees 40,000 Motor Vehicle 500,000 Provision for Depn on Motor Vehicle 40,000 Premises 550,000 Machinery and Equipment 220,000 Creditors 33,000 Provision for Depn Mach & Equip 37,500 Interim Preference Shares Dividends 25,000 Interim Ordinary Shares Dividend 5,000 2,843,500 2,843,500
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Performance Products Corporation makes two products, titanium Rims and Posts. Data regarding the two products follow: Additional information about the company follows: a. Rims require $17 in direct...
-
Denton Pet Clinic is a small business owned by two veternarians who employ two full-time staff members and a new part-time busi- ness manager. The business manager believes that Denton could save...
-
Critical Thinking Many times firms take advantage of their popular, well-known brands by developing brand extensions because they know that the brand equity of the original or parent brand will be...
-
What are the major issues in this case? Assess Wal-Marts corporate social responsibility using the four-part CSR model. Is Wal-Mart socially responsible while it has a devastating impact on small...
-
Covered Call Strategy. Carlos purchased 100 shares of stock in Company Alpha for $20 a share. He recently sold a call on the stock for $1.50 a share with a strike price of $39. The stock has since...
-
Visa operates Visa's Cookies and is experimenting with pricing for a four-pack of cookies she buys and resells to convenience stores. She has tracked how many people buy the cookies in a month at...
-
You have just won the lottery and you can choose between the following payout options. The annual interest rate (EAR) is 5%. a) $70,000 right now and $20,000 every two years starting 3 years from now...
-
Draw graph of y = -5 x
-
Managing difficult Employees: Part I. Question 1:What can the individual supervisor do about employee appearance if the organization has no dress code that applies to all employees? Part II. ...
-
The City of Callaghan had the following partial list of pre-closing account balances in its General Fund as of June 30, 2023. Debits Appropriations Control Credits $ 2,975,000 Budgetary Fund Balance...
-
His Team Gets the Best Assignments Carly Peters directs the creative department of the advertising agency of Mills, Smith, & Peters. The agency has about 100 employees, 20 of whom work for Carly in...
-
Nadia Corporation adjusts its debt so that its interest coverage (EBIT/Interest) remains constant at 3. Nadia's EBIT next period is projected to be $15 million and this is expected to grow at 3.5%...
-
A research report concludes that there are significant differences among treatments with " F (2, 99) = 41.27, p < .0001, 2 = .455." How many independent groups were compared in this one-way ANOVA?
-
Discuss how new technologies make it easier to learn. How do they facilitate transfer of training?
-
What is artificial intelligence (AI)? Provide an example of how AI can be used in training.
-
Watch the video about MD Andersons Oncology Expert Advisor at www.youtube.com/ watch?v=CtyYI7ou2B0. What are the benefits of such an expert system to oncology doctors? Are there any disadvantages?...
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App